Dubai’s Emirates Group reports 34% rise in profits to $1.5bn

Dubai’s Emirates Group, the parent company of the Dubai International Airport-based airline, today announced its latest financial results, recording a 34 percent rise in annual profit to $1.5 billion, its second most profitable year ever since it was founded 30 years ago.

Speaking at Arabian Travel Market this week, the carrier’s president Sir Tim Clark said the company benefited from new route launches, strong performance from European markets – despite the Eurozone turmoil – and refraining from its past practice of oil price hedging.

However, tapping into the Asian markets, where it performed less well than Europe and the Middle East, had been “a bit of a fight” last year, he added.